Tungsten: Markets,Competitors And Opportunities 2012-2022 Analysis And Forecasts


October 1, 2012
135 Pages - SKU: AMD4892121
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Tungsten is a hard, rare metal of critical and strategic importance. The British Geological Survey ranks tungsten among the scarcest elements on earth–rarer even than rare earths. The US Department of Energy also considers tungsten a critical material. The European Commission identified tungsten as the second most critical material in terms of economic importance vs. supply risk. The metal's unique properties make it essential to the manufacture of everything from drill bits to cruise missiles and there are no known substitutes.

China currently dominates the supply of tungsten and is expected to do so for the next decade. However, the Chinese government has adopted restrictive policies including implementing quota systems, increasing tax rates and pushing for industry consolidation, etc. to reorganize its tungsten industry, the same as in its rare earth industry. Chinese primary tungsten production will be curbed to half its historical growth rate going forward. Further, very few tungsten mines outside of China are expected to be in production, or close to beginning production, during the next few years.

Rising demand for tungsten coupled with dwindling supplies is keeping prices high. As a result, tungsten presents a unique situation with many opportunities for producers, fabricators and investors.

This report provides an in-depth look at the global tungsten industry including:
  • What is tungsten, where does it come from, how is it obtained, what is it used for and why it is so important.
  • Tungsten production, demand, prices, world trade and market outlook.
  • China’s role in tungsten supply, consumption, industry consolidation, pricing and shortages.
  • Detailed analysis of the global tungsten market by segment from 2012 to 2022.
  • Key strategic issues.
  • Regional trends.
  • Political risks.
  • New technologies.
  • Major opportunities.
  • Competitive landscape.
  • Top players in the market.
Additionally, profiles of 28 leading foreign and US companies are given. The report also includes 61 figures and 24 tables.


CONTENTS
EXECUTIVE SUMMARY
INTRODUCTION
Background
Methodology and Sources
Statistical Notes
TUNGSTEN
Definition
History
Physical Properties
Isotopes
Chemical Properties
Biological Role
Occurrence
Extraction Methods
Surface Mining
Underground Mining
Processing
Concentrates
Scrap
Applications
Military
Chemical
Niche Uses
Gold Substitution
Electronics
Conflict Minerals
TUNGSTEN MARKET OVERVIEW
Data Notes
US Legislation and Government Programs
US Production
US Consumption
Prices
Foreign Trade
World Review
Australia
Austria
Brazil
Canada
China
Congo (Kinshasa)
Japan
Peru
Portugal
Russia
Rwanda
Rwanda
South Korea
Spain
Sweden
United Kingdom
Vietnam
Market Outlook
CHINA TUNGSTEN INDUSTRY
Strategic Metal
China Dominates the Supply
Stable Demand
Shortages Expected to Drive Prices Up
Essential to Technology and Industry
China’s Market Position
China Curbs Supply Growth
Implementing the Quota Systems
Increasing Tax Rates
Promoting Industry Consolidation
Push for Consolidation
Post Consolidation Winners
Similarities to Rare Earth Industry Consolidation
Production Outlook
Rest of World Supply Lags
Recycling and Stockpile Sales
Broad Based Consumption
Chinese Demand Is Critical
Hard Metals in China
Rest of World Demand Is Mature With Some Exceptions
Shortages To Drive Up Prices
Price Issues
Price Outlook
COMPANY PROFILES
Allegheny Technologies Incorporated
(Background, Tungsten, Engineered Products, Tungsten Materials Sales, Products, Tungsten Powder, ATI DENSalloy® Tungsten Heavy Alloy, Tungsten Heavy Alloy Products, Infiltrated Tungsten, Processing Capabilities, Brakenridge Plant, Significant Barriers to Entry, Competitors)
Almonty Industries Inc
(Background, Tungsten, Los Santos Project, Recent Events)
Carbine Tungsten
(Background, Tungsten, Mt Carbine Project, Estimated Future Revenues)
Chenzhou Mining Group Co., Ltd
(Background, Tungsten, Strong Growth Trends Indicated by Its 12th Five-Year Plan, High Self-Sufficiency Rate Brings High Margin)
China Minmetals Corporation
(Background, Tungsten, Xiamen Tungsten JV)
China Molybdenum Co., Ltd.
(Background, Tungsten, Revenue and Margins, Future Plans)
China Tungsten and Hightech Materials Co
(Background, Tungsten)
Chongyi Zhangyuan Tungsten Co., Ltd
(Background, Tungsten, Abundant Reserves Mean a Stable, Secure Supply, Deep Processing Products: The Main Source of Revenues and Profits, M&A Growth)
Deutsche Rohstoff AG
(Background, Tungsten, Wolfram Camp Mining, Global Tungsten & Powders Corp. Agreement)
Global Tungsten & Powders Corp.
(Background, Tungsten, Fuel Cell Plans, Deutsche Rohstoff Agreement, Wolfram Camp)
H.C. Starck GmbH & Co. KG
(Background, Tungsten, Products, Powders & Compounds, Fabricated Products, Jiangxi Rare Metals Tungsten JV, Recycling)
Hazelwood Resources Limited
(Background, Tungsten, ATC Ferrotungsten Project, Mt Mulgine Tungsten Project, Exploration History, Fit with Hazelwood’s Business)
Hunan Nonferrous Metals Corporation Ltd.
(Background, Tungsten)
Jiangsu Shunchi Tungsten & Molybdenum Products Co., Ltd.
(Background, Tungsten, Products)
King Island Scheelite Limited
(Background, Tungsten)
Malaga Inc
(Background, Tungsten, Resource, Production, Production Costs, Outlook)
Mitsubishi Materials Corporation
(Background, Tungsten, Superhard Tools)
Nippon Tungsten Co., Ltd.
(Background, Tungsten, Tungsten Sheet)
North American Tungsten Corporation Ltd.
(Background, Tungsten, Cantung Mine, Mactung Property)
Northcliff Resources Ltd
(Background, Tungsten, Sisson Project)
(Background, Tungsten, Barruecopardo Tungsten Project)
Plansee Group
(Background, Tungsten)
Rising Nonferrous Metals Share Co Ltd.
(Background, Tungsten)
Sandvik AB
(Background, Tungsten, Global Tooling Leader, Mining Capital Expenditures Being Driven by High Commodity Prices)
Thor Mining Plc
(Background, Tungsten, Molyhil)
Wolf Minerals Limited
(Background, Tungsten, Hemerdon)
Woulfe Mining Corp
(Background, Tungsten, Sangdong Tungsten/Molybdenum Project)
Xiamen Tungsten Co., Ltd.
(Background, Tungsten, Products, Towards Higher Margins, Mines, Upstream Mines, Midstream Smelting, Downstream Deep Processing, Mine Expansion for Self-Sufficiency, High-End Products, Future Development and Asset Injection Potential)
FIGURES
1.) Wolframite (Scale in cm)
2.) Wolfram Evaporated Crystals and 1 cm3 Cube
3.) Tungsten Price and Production Over the Past 100 Years
4.) Global Mining Production of Selective Metals (Tonnes): 2009
5.) Average APT Price (US$/MTU): 2007-2012
6. ) Global Demand and Supply of Tungsten: 2008-2015
7.) Relative Price Performance Between Tungsten and Base Metals: 2004-2011
8.) World Tungsten Reserves by Country: 2010
9.) World Tungsten Output by Country: 2010
10.) China Tungsten Reserves by Province: 2007
11.) China Tungsten Output by Province: 2010
12.) Different Types of Chinese Tungsten Products and Their Export Status
13.) Chinese Export Tax Rebates and Export Tariffs for Tungsten Products by Type: 2004-2011
14.) Mining Quota Distribution Among China Tungsten Suppliers
15.) Average Quota Per Mine Among China Tungsten Suppliers
16.) China’s Primary Tungsten Production: 2001-2015
17.) Non-Chinese Primary Tungsten Production by Country (kT): 2001-2015
18.) Tungsten Supply CAGR by Source: 2011-2015
19.) World Tungsten Supply Breakdown by Source: 2015
20.) Global Tungsten Consumption by Sector: 2008
21.) Tungsten Consumption by Country: 2008
22.) China Tungsten Consumption by Sector: 2008
23.) Europe Tungsten Consumption by Sector: 2008
24.) US Tungsten Consumption by Sector: 2008
25.) Japan Tungsten Consumption by Sector: 2008
26.) : China Tungsten Consumption and CAGR: 2001-2015
27.) Five-Year CAGR in China Tungsten Demand by Sector: 2006-2010, 2011-2015
28.) Hard Metals Production in China: 2001-2010
29.) High-Speed Tool Steels Production in China: 2001-2010
30.) Rest of World Tungsten Demand by Country and Region (Tonnes, %): 2001-2015
31.) Tungsten Consumption by Country and Region: 2015
32.) Tungsten Demand, Supply and Shortages Worldwide by Source (Tonnes): 2008-2015
33.) Prices of Various Tungsten Products (Rmb/Kg): 2004-2011
34.) Price Premiums of Tungsten Various Products (%): 2006-2011
35.) APT FOB Price Premium To Domestic Price: 2006-2011
36.) China Domestic APT Prices (Rmb/Kg): 2005-2015
37.) Allegheny Technologies’ Engineered Products Sales, Product Mix and Markets (%, $ Million): 2010, 2011
38.) Chenzhou Mining Group Revenue by Segment: 2010
39.) Chenzhou Mining Group Corporate Structure
40.) Chenzhou Mining Group’s Five-Year Plan: 2010-2015
41.) China Minmetals Tungsten Assets
42.) Chongyi Zhangyuan Tungsten Co. Revenue by Segment: 2010
43.) Chongyi Zhangyuan Tungsten Co. Corporate Structure
44.) : Chongyi Zhangyuan Tungsten Co. Value Chain
45.) Chongyi Zhangyuan Tungsten Co.’s Share of Production Quotas: 2010
46.) Chongyi Zhangyuan Tungsten Co.’s Share of Export Quotas: 2010
47.) Chongyi Zhangyuan Tungsten Co.’s Revenues and Gross Margins by Product: 2007-2013
48.) Chongyi Zhangyuan Tungsten Co.’s Gross Profits by Product (Rmb Million): 2007-2013
49.) Hunan Nonferrous Metals Gross Profits by Segment: 2009-2011
50.) Malaga Production at Pasto Bueno: 2011-2014
51.) Malaga Production Comparison To Its Peers
52.) Global Superhard Tips Sales Volume and Average Selling Price (JPY): 2004-2011
53.) Global Tooling Market Share by Company: 2011
54.) Global Mining Capital Expenditures by Company Type: 2001-2011
55.) Mining Equipment Competitive Landscape: 2011
56.) Xiamen Tungsten Co. Corporate Structure
57.) Xiamen Tungsten Co’s Value Chain
58.) Xiamen Tungsten Co’s Share of Production Quotas: 2010
59.) Xiamen Tungsten Co’s Share of Export Quotas: 2010
60.) Xiamen Tungsten’s Revenue and Gross Margins by Segment: 2006-2013
61.) Xiamen Tungsten’s Gross Profits by Segment: 2006-2013
TABLES
1.) US Tungsten Statistics (Production, Consumptions, Exports, Imports, Prices, Stocks, End Uses) (Metric Tons, USD): 2006-2010
2.) US Government National Defense Stockpile (Ore/Concentrates, Metal Powder, Plan, Sales, Inventory) (Metric Tons): 2010
3.) US Net Production and Stocks of Tungsten Products (Metric Tons): 2009, 2010
4.) US Processors of Tungsten and Plant Locations: 2010
5.) US Consumption and Stocks of Tungsten Products by End Use and Form (Metric Tons): 2010
6.) US Exports of Tungsten Ores and Concentrates by Country (Metric Tons, USD): 2009, 2010
7.) US Exports of Ammonium Paratungstate by Country (Metric Tons, USD): 2009, 2010
8.) US exports of Tungsten Metal Powders by Country (Metric Tons, USD): 2009, 2010
9.) US Exports of Tungsten Carbide Powder by Country (Metric Tons, USD): 2009, 2010
10.) US Exports of Miscellaneous Tungsten-Bearing Materials by Country (Metric Tons, USD): 2009, 2010
11.) US Imports for Consumption of Tungsten Ores and Concentrates by Country (Metric Tons, USD): 2009, 2010
12.) US Imports for Consumption of Ammonium Paratungstate by Country (Metric Tons, USD): 2009, 2010
13.) US Imports for Consumption of Ferrotungsten and Ferrosilicon Tungsten by Country (Metric Tons, USD): 2009, 2010
14.) US Imports for Consumption of Miscellaneous Tungsten-Bearing Materials by Country US Imports for Consumption of: 2009, 2010
15.) World Tungsten Concentrate Production by Country (Metric Tons): 2006-2010
16.) Global Tungsten Production (Metric Tons), Unit Value ($/T), Market Value (USD), CAGR: 1905-2022
17.) Comparison of China’s Tungsten and Rare Earth Industries
18.) Non-Chinese Tungsten Mine Profiles: 2011
19.) Chenzhou Mining Group’s Resources Profile
20.) Chongyi Zhangyuan Tungsten Co. Mines Profiles (Reserves, Quota, Output): 2007-2010
21.) Chongyi Zhangyuan Tungsten Co.’s Output by Product (Tonnes, Rmb/Kg): 2008-2013
22.) Mitsubishi Materials Revenue and Profits by Segment: 2010-2014
23.) North American Tungsten Operating Results: 2011-2013
24.) Sandvik AB Corporate Snapshot: 2011

 

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